Charter Oak Bank Reports Results.

NAPA, Calif. -- Charter Oak Bank, (OTCBB:CHOB) headquartered in Napa, California reported first quarter 2006 total assets of $43.5 million an increase of $18.6 as compared to the same period in 2005. Total loans were $37.9 million as compared to $16.3 million one year ago. The bank's deposits at March 31, 2006 were $27.4 million, an increase of $18.8 million since March 31, 2005.

The bank's net loss for the first quarter was $140,000 which was a $94,000 improvement from fourth quarter 2005 and was $326,000 better from the same period in 2005. The bank reported no delinquent or past due loans and is considered "well-capitalized" by regulatory definition.

Brian Kelly, President & Chief Executive Officer, states "We are very pleased with the Bank's performance since we opened in December 2004. Loan and deposit growth has been steady and our quality staff is dedicated to providing superior customer service. We have high expectations for 2006 as we get closer to profitability."

Forward-Looking Statements 

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes and financial policies of the United States government and general economic conditions. The Bank disclaims any obligation to update any such factors.